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# Scan 0010

Scan 0010
Answered Same Day Apr 14, 2020

## Solution

Aarti J answered on Apr 17 2020
1
Equivalent units of production (EUP) -Weighted average method
All direct materials are added to he products when processing begins
Units    % materials    EUP - materials
Goods completed    88000    100%    88000
Ending WIP    17900    100%    17900
Total EUP    105900        105900
Beginning inventory is 30% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs
Units    % materials    EUP - materials
Goods completed    88000    100%    88000
Ending WIP    17900    75%    13425
Total EUP    105900        101425
Beginning inventory is 70% complete as to materials and conversion costs. Ending inventory is 30% complete as to materials and conversion costs
Units    % materials    EUP - materials
Goods completed    88000    100%    88000
Ending WIP    17900    20%    3580
Total EUP    105900        91580
2
Equivalent units of production (EUP) -FIFO method
All direct materials are added to products when processing begins
Units    % materials    EUP - materials
To complete beginning WIP    35200    0%    0
Units started and completed    52800    100%    52800
Ending WIP    17900    100%    17900
Total EUP    105900        70700
Beginning inventory is 30% Ending is 75% complete
Units    % materials    EUP - materials
To complete beginning WIP    35200    70%    24640
Units started and completed    52800    100%    52800
Ending WIP    17900    75%    13425
Total EUP    105900        90865
Beginning inventory - 709% ending 20%
Units    % materials    EUP - materials
To complete beginning WIP    35200    30%    10560
Units started and completed    52800    100%    52800
Ending WIP    17900    50%    8950
Total EUP    105900        72310
3
Calculate the equivalent units of production for the forming deparment
Direct materials    392000
Conversion    376000
Calculate the cost per equivalent unit of production for the forming department
Direct materials    3.80
Conversion    2.70
Cost assignment and reconcilaitaion
Cost of units trasfe
ed out    EUP    Cost per EUP    Total cost
Direct materials    358000    3.80    1360400
Conversion    358000    2.70    966600
Total cost transfe
ed out                2327000
Costs of ending WIP
Direct materials    34000    3.80    129200
Conversion    18000    2.70    48600
Total costs of ending WIP                177800
Total cost assigned                2504800
4
Calculate the equivalent units of production for the forming deparment
Direct materials    372400
Conversion    356400
Calculate the cost per equivalent unit of production for the forming department
Direct materials    4.00
Conversion    2.85
Cost assignment and reconcilaitaion
Cost of units trasfe
ed out    EUP    Cost per EUP    Total cost
Direct materials    338400    4.00    1353600
Conversion    338400    2.85    963927.272727273
Total cost transfe
ed out                2317527.27272727
Costs of ending WIP
Direct materials    34000    4.00    136000
Conversion    18000    2.85    51273
Total costs of ending WIP                187273
Total cost assigned                2504800
5
units trasfe
ed    370000
Equivalent units    Units    % materials    EUP - materials    % conversion    EUP - conversion
Units completed and trasfe
ed out    370000    100%    370000    100%    370000
Units of ending goods in process    96000    90%    86400    40%    38400
EUP    466000        456400        408400
6
Equivalent units of production - Weighted average
Units    % materials    EUP - materials    % conversion    EUP - conversion
Units completed during the period    370000    100%    370000    100%    370000
Ending WIP    96000    90%    86400    40%    38400
EUP    466000        456400        408400
Cost per EUP            Materials        Conversion
Cost of beginning inventory            200420        18532
Cost incu
ed during the period            1191600        818688
Total costs            1392020        837220
Equivalent units of production            456400        408400
Cost per EUP            3.05        2.05
Total costs to account fo
Direct materials, beginning    200420
Conversion cost, beginning    18532
Direct materials, cu
ent period    1191600
Conversion cost, cu
ent period    818688
Total costs to account for    2229240
Cost Assignment and Reconcilation    EUP    Cost per EUP    Total cost
cost of units trasfe
ed out
Direct materials    370000    3.05    1128500
Conversion    370000    2.05    758500
Total costs trasfe
ed out            1887000
Cost of ending work in process
Direct materials    86400    3.05    263520
Conversion    38400    2.05    78720
Total cost of Ending WIP            342240
Total cost accounted for                2229240
7
Equivalent unist of production - FIFO
units    % materials    EUP-materials    % conversion    EUP conversion
Beginning    74000    20%    14800    80%    59200
Started and complated    296000    100%    296000    100%    296000
Ending WIP    96000    90%    86400    40%    38400
EUP            397200        393600
8
Equivalent units of production - FIFO method
Units    % materials    EUP - materials    % conversion    EUP - conversion
Beginning    74000    20%    14800    80%    59200
Started and complated    296000    100%    296000    100%    296000
Ending WIP    96000    90%    86400    40%    38400
EUP            397200        393600
Cost per EUP            Materials        Conversion
Cost of beginning inventory            200420        18532
Cost incu
ed during the period            1191600        818688
Total costs            1392020        837220
Equivalent units of production            397200        393600
Cost per EUP            3.50        2.13
Total costs to account fo
Direct materials, beginning    200420
Conversion cost, beginning    18532
Direct materials, cu
ent period    1191600
Conversion cost, cu
ent period    818688
Total costs to account for    2229240
Cost Assignment and Reconcilation    EUP    Cost per EUP    Total cost
Assignment of costs to output of department
Cost of 74000 units from beginning inventory
Beginning inventory
EUP    Cost per EUP    Total cost
Materials to complete    14800    3.50    51868
Conversion to complete    59200    2.13    125923
Total costs to complete            177791
Total cost of 74000 units in beginning inventory            218952
Cost of units started and completed this oeriod
Direct materials    296000    3.50    1037356
Conversion costs    296000    2.13    629617
Total costs of 296000 units started and completed            1666973
Total cost of 370000 units transfe
ed out
Costs of ending inventory
Direct materials    86400    3.50    302795.891238671
Conversion costs    38400    2.13    81680
Total cost of 96000 units in ending inventory            384475.891238671
Total cost assigned                2229240
296000    3.5045820745    1037356.29405841
296000    2.1270833333    629616.666666667
1666972.96072508
86400    3.5045820745    302795.891238671
38400    2.1270833333    81680
384475.891238671
2051448.85196375
9
Costs charged to production
Cost of beginning goods in process    37210
Costs incu
ed this period    840100
Total costs to account for    877310
Total costs accounted for    877310
Difference    0
Unit...
SOLUTION.PDF